Union Bancaire Privee UBP SA Boosts Stock Position in Barrick Gold Corp (NYSE:B)

Union Bancaire Privee UBP SA grew its holdings in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 80.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,782 shares of the gold and copper producer’s stock after buying an additional 26,658 shares during the period. Union Bancaire Privee UBP SA’s holdings in Barrick Gold were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in B. Capital International Investors boosted its holdings in shares of Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock valued at $516,055,000 after buying an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC purchased a new stake in Barrick Gold in the fourth quarter valued at $172,225,000. Wellington Management Group LLP boosted its stake in Barrick Gold by 17.5% in the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after acquiring an additional 9,598,292 shares in the last quarter. FIL Ltd increased its position in shares of Barrick Gold by 236.7% during the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer’s stock worth $105,692,000 after purchasing an additional 4,791,663 shares in the last quarter. Finally, Capital International Inc. CA acquired a new stake in shares of Barrick Gold during the fourth quarter worth about $57,991,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Shares of NYSE B opened at $20.93 on Friday. The stock has a fifty day moving average price of $19.23 and a 200 day moving average price of $17.94. Barrick Gold Corp has a 1-year low of $17.41 and a 1-year high of $47.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The company has a market cap of $35.88 billion, a PE ratio of 17.02, a P/E/G ratio of 0.44 and a beta of 0.27.

Barrick Gold (NYSE:B) (TSE:ABX) last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. Sell-side analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.91%. Barrick Gold’s payout ratio is currently 30.08%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on B shares. Royal Bank of Canada boosted their target price on Barrick Gold from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Scotiabank lifted their price target on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Finally, Raymond James upped their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.